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GUIDELINES THE REVOLVING LOAN PROGRAM FOR HISTORIC PROPERTIES (City of Wichita)

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– GUIDELINES –
THE REVOLVING LOAN PROGRAM FOR HISTORIC
PROPERTIES
(and other financial incentives)
Wichita-Sedgwick County
Metropolitan Area Planning Department
Historic Preservation Office
&
City of Wichita
Neighborhood Improvement Services
Revolving Loan Program for Historic Properties
Purpose: Provide low-interest loans to encourage the preservation and rehabilitation of historic
properties in Wichita.
Eligibility:
The property to be rehabilitated shall be designated and listed on the National, State
or Local Register as a landmark in Wichita; a contributing element in a designated and listed
historic district on the National, State or Local Register in Wichita; listed in the Undesignated
Historic Resource List as adopted by City Council, September 15, 1998; or be eligible for
possible listing as an individually designated or contributing element in an historic district on the
National, State or Local Register as a landmark in Wichita. Property must be within the portion
of the Neighborhood Revitalization Area located within the 1919 Wichita City limits.
Any qualifying property must additionally (a) be within an area designated as “slum and
blighted,” or (b) pose a situation of “spot blight.”
Interest:
Four percentage points below the Prime Rate lending rate at the date of loan closing.
Twenty (20) year term for maximum amount. At the time of making financial application, the
applicant will pay a fee of $125 for costs of obtaining a credit report and title certificate.
Covenant:
Properties not officially designated by city ordinance as a Wichita Landmark or a
contributing element within a Wichita Landmark District or listed in the Kansas or National
Register of Historic Places will have a covenant placed on the property for the life of the loan.
Maximum Loan Amount—$25,000/$5,000:
Properties designated by ordinance can borrow up to $25,000. Properties that are potentially
eligible for listing can borrow up to $5,000. Certification of the historic status is the
responsibility of the Preservation Planner. A property owner may reapply for additional funds
under the Revolving Loan Program if the owner has not received the maximum amount.
Owners of designated properties may submit a request in excess of the maximum amount. A
2/3 majority vote by the Historic Preservation Board (HPB) is required for approval. If approved
by the HPB, the request is submitted to the City Council, which has final authority of approval.
Loan applications are to be submitted to the Historic Preservation Planner. The
application shall include a financial statement, third party income verification, description of the
work to be done, at least one signed estimate from a licensed contractor for the proposed work,
and an application fee of $125.00, to be applied towards closing costs (credit report and title
search). In the event the loan is not closed, any unexpended applications fees will be returned
to the applicant.
All construction proposed to be accomplished with these funds must be approved by the
Historic Preservation Board (HPB) and receive a Certificate of Appropriateness.
For any properties other than single-family residences, rehabilitation owners and contractors
must comply with Federal Labor Standards.
Eligible work items include the following and should be listed on the loan application in the
order of priority for the preservation of the structure:
1. Work necessary to bring structure up to life-safety code standards.
2. Structural
a. foundation repair
b. roof repair, chimney repair
c. framing repair, sill
d. sheathing repair, windows and doors
3. Mechanical
a. rewiring
b. replumbing
c. insulation
d. mechanical systems, climate control
4. Interior architectural elements of outstanding historical importance; for example, a ceiling, a
fireplace, a staircase.
Exterior painting is also eligible. In the event only a portion of the funds requested can be
allocated, the HPB shall take into consideration the above-listed order of precedence for eligible
work items in order to determine which work elements are most critical to the structure.
No structural addition that would enlarge the livable space of the project is to be financed with
these funds — nor an area not originally a livable space made livable.
The HPB will prioritize projects. Consideration will be given to (1) threats to the survival of the
structure, (2) importance of the structure to the overall goals of preservation in Wichita, (3)
structural integrity and condition of the structure, and (4) cost effectiveness of the proposed
work. Preference will also be given to the owner-occupant of residential buildings and to
private, non-profit organizations.
In determining the amount of the request to be recommended, the HPB will also consider the
time required to complete the project. Applicants are requested to limit loan requests for
projects that can be completed in a 12-month period.
DEFERRED HISTORIC LOAN PROGRAM
Deferred Historic Loans will be available for owner occupied single family residences, who meet
80% median income guidelines, and do not qualify for monthly installment loans due to credit
problems or do not possess the ability to repay a loan. The director of the Neighborhood
Improvement Services shall make this determination.
Eligibility requirement for the property, design review standards and review process is the same
as the requirements for the Historic Revolving Loan Program.
Conditions:
The borrower will not be required to repay the amount loaned during the
borrower’s lifetime as long as the borrower remains the owner and residential occupant of the
improved property. In the event that the borrower conveys their interest in the property, the
mortgage shall be immediately due and owing. Interest shall be 0%.
The borrower’s heirs may inherit the real property and not repay the loan as long as they occupy
the structure as a permanent residence, meet the income criteria and maintain the structure.
Eligible work items are the same as for the Revolving Loan Program with the exclusion of item
four.
TAX REBATE PROGRAM
Property tax rebates are available for new construction, additions to existing properties and
rehabilitation within the Neighborhood Revitalization Area. These rebates apply to single family
homes, multi-family residences and commercial properties. Rebates are based on the amount
of the increase in taxes paid after the project is completed. Depending on the type of property,
rebates could be as high as 95% of the increase in taxes. For more information, call the
housing office at 316-268-4691.
RESIDENTIAL BUILDING PERMIT FEE WAIVER
Building permit fee waivers are available for residential construction — new construction,
additions to existing structures, and rehabilitation of existing structures — for single family and
two-family residences. The permit value must be at least $10,000 for the fee waiver to apply.
Properties must be located within the Neighborhood Revitalization Area. Eligibility of the project
is determined at the time the building permit is issued. This program is administered by the
Office of Central Inspection.
DESIGN REVIEW STANDARDS
The Secretary of the Interior’s Standards for the Treatment of Historic Properties with
Guidelines for Preserving, Rehabilitating, Restoring & Reconstructing Historic Buildings will be
used for design guidance in addition to the published guidelines for Wichita’s designated historic
districts. These publications can be viewed at the MAPD Historic Preservation Office, 455 N.
Main, 10
th
Floor.
For more information about these programs, call the Historic Preservation Planner at 316-268-
4421.
Work is not to begin on any project covered by a loan application until the
Certificate of Appropriateness has been approved by the HPB and the loan
processed.
LOAN APPLICATION
Date:___________________________ Application # ____________________
NAME:_________________________________ DATE OF BIRTH: ________________ PHONE:_________________
ADDRESS:________________________________________________ HOW LONG:______ YRS. _______ MONTHS
Street City Sate Zip
PREVIOUS ADDRESS: _____________________________________ HOW LONG: ______ OWN ____ RENT_____
RACE: ______NO. DEPENDENTS INCLUDING SPOUSE: ____ SOCIAL SECURITY NO.__________________
EMPLOYER: _____________________________________________________ HOW LONG _______ YRS. _______
MOS.
Name Address Phone
JOB TITLE: _________________________________________GROSS PAY: ______WEEKLY:_____ MONTHLY
PREVIOUS EMPLOYER:________________________________________ HOW LONG. _____ YRS.:______MONS:
Name Address Phone
NAME OF BANK:_________________________________ CHECKING ACCT:______ SAVINGS ACCT:_________
Income from alimony, child support or maintenance payments need not be revealed if applicant does not choose to
disclose such income.
Is any income stated from such source? ____________ Other Income: ____________ Source:___________________
IS THERE LIABILITY TO PAY?____ Alimony:____ Child Support:____ Maintenance: $ ______ per month
NAMES OF TWO RELATIVES NOT LIVING WITH YOU:
_________________________________________________________________________________________________
Name Address Phone Relationship
_________________________________________________________________________________________________
_
Name Address Phone Relationship
CREDIT REFERENCES: (1) _______________________________ (2)_______________________________________
(3)________________________________________________(4)____________________________________________
LIST ALL OBLIGATIONS (Use additional sheets if necessary. You may not omit any creditors.)
ASSETS VALUE
CREDITORS, INCLUDE
ADDRESS
BALANCE PAYMENT
ALL CREDITORS ARE LISTED: 1
ST
signer ___________________________ 2
nd
Signer ________________________
(Initials) (Initials)
To be completed if (1) the income of a spouse will be relied upon by you for repayment: (2) if spouse will be asked
by creditor to sign a credit instrument or otherwise be contractually liable on the account; (3) if income received
as alimony, child support or maintenance is relied upon as a basis for repayment of credit requested.
SPOUSE: _______________________________ DATE OF BIRTH: _______ ADDRESS: _______________________
EMPLOYER:___________________________________________ POSITION: ________________________________
Name Address Phone
HOW LONG? ___ YEARS ___ MONTHS GROSS PAY:
MONTH SOCIAL SECURITY#:
PREVIOUS EMPLOYER:_____________________________________________ HOW LONG _____YRS. ____MOS.
Name Address Phone
Income from alimony, child support or maintenance payments need not be revealed if applicant does not choose to
disclose such income.
Is any income stated from such a source?_____________________ Other Income: ___________Source:_____________
IS THERE LIABILITY TO PAY? ______ Alimony _____ Child Support ______Maintenance $ ______per month
PURPOSE OF LOAN: _______________________ COLLATERAL _________________________________________
I (We) represent that the information contained in this application is true and correct and understand that you will rely on
the truth of the foregoing statements. You are authorized to obtain information from my credit bureau, the sources listed
on the application, or any other source.
Applicant’s Signature____________________________________________ Date _____________________________
Co-Application’s Signature _______________________________________ Date_____________________________
MONTHLY
INCOME
MONTHLY
HOUSING
EXPENSE
BEFORE AFTER
Applicant’s base Pay $ Mortgage Payment $ $
Co-applicant’s Base
Pay
Mortgage Insurance
Other Earnings
(Explain)
Hazard Insurance
Social Security Real Property Taxes
Pension, Annuities,
etc.
Maintenance
Gross Income from
Real Estate
Heat and utilities
Other (Explain) Child
Support Alimony (+
or -)
Other (Explain)
TOTAL
$
TOTAL
$ $
Do you have any US Savings Bonds? Yes___ No____ $______________ value
Do you have any marketable securities Yes___ No____ $______________ value
Do you have any Real Estate / Property Yes___ No____
Address_____________________________ $______________ value
Address_____________________________ $______________ value
Address_____________________________ $______________ value
Please attach third party verification of income to this application – a copy of SSI letter, copy of
most current income tax return, copy of most recent payroll stub.
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GUIDELINES THE REVOLVING LOAN PROGRAM FOR HISTORIC PROPERTIES (City of Wichita)

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Completed 5 August 2020

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